Jamaica’s merchandise trade deficit widened during the first five months of 2026, with the country spending nearly five times more on imports than it earned from exports, according to the latest data from the Statistical Institute of Jamaica (STATIN).
Jamaica spent US $3.218 billion on imported goods between January and May, while export earnings totalled just US $674.7 million. The figures mean the value of imports was approximately 4.8 times the value of exports during the period.
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The imbalance reflects a combination of rising import costs and declining export earnings. Import expenditure increased by 1.8 percent compared with the US $3.161 billion recorded during the corresponding period in 2025. STATIN attributed the increase largely to higher spending on raw materials and intermediate goods, capital goods excluding motor cars, and transport equipment, which rose by 5.2 percent, 7.4 percent and 6.6 percent, respectively.
At the same time, Jamaica’s exports weakened significantly. Earnings from exports fell 12.5 percent, from US $770.9 million in January to May 2025 to US $674.7 million this year. STATIN said the decline was driven primarily by a 44.3 percent drop in the value of crude material exports, excluding fuels.
The United States remained Jamaica’s largest source of imports during the period, followed by China, Japan, Colombia and Brazil. Together, imports from those five countries were valued at US $2.153 billion, an increase of 14.3 percent over the US $1.885 billion recorded in the corresponding period last year.
The United States also remained Jamaica’s leading export market. Other major destinations were the Russian Federation, the Netherlands, Canada and the United Kingdom. Combined export earnings from the five markets amounted to US $507 million, down slightly from US$509.6 million in the first five months of 2025.
The latest figures underscore the continued structural imbalance in Jamaica’s merchandise trade, as the country remains heavily dependent on imported goods while export earnings have weakened. The widening gap also highlights the importance of strengthening domestic production and expanding the range and value of goods Jamaica is able to sell competitively in international markets.
STATIN’s May figures come as the agency continues to monitor Jamaica’s external trade performance. The June 2026 International Merchandise Trade figures are scheduled for release on September 30, providing the next indication of whether the trade imbalance has continued to widen or begun to narrow.
